secwatch.observer — SEC 8-K summary
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Issuer:     CYANOTECH CORP (CYAN)
CIK:        0000768408
Form:       8-K
Filed at:   2023-08-17T23:59:59+00:00
Accession:  0001437749-23-024061
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cyanotech increases revolving credit facility with Skywords from $1M to $2M
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- Second Amendment to Amended and Restated Promissory Note increases maximum revolving amount from $1,000,000 to $2,000,000.
- Outstanding principal balance on note was $1,000,000 and on revolver $750,000 as of August 14, 2023.
- Lender Skywords Family Foundation is controlled by Chairman/largest stockholder Michael Davis, a related-party transaction.
- All other terms of the Note remain unchanged.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/768408/000143774923024061/0001437749-23-024061-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/768408/000143774923024061/cyan20230814_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-024061

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer